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Financial information is given below 2020 2021 2022 Sales 11 311 223 27 146 935 47 744 483 Cost of sales 6 334 285 10
Financial information is given below
2020 | 2021 | 2022 | ||||||
Sales | 11 311 223 | 27 146 935 | 47 744 483 | |||||
Cost of sales | 6 334 285 | 10 858 774 | 19 545 793 | |||||
GROSS PROFIT | 4 976 938 | 16 288 161 | 28 198 689 | |||||
Operating Expenses | 508 816 | 2 509 158 | 4 236 485 | |||||
OPERATING PROFIT | 4 468 122 | 13 779 003 | 23 962 204 | |||||
Other Income | 175 605 | 73 311 | 118 329 | |||||
Other Expenses | 22 904 | 76 749 | 91 300 | |||||
EARNINGS BEFORE INTEREST AND TAXES | 4 620 823 | 13 775 565 | 23 989 234 | |||||
Interest Expense | 1 361 221 | 1 642 931 | 1 775 815 | |||||
EARNINGS BEFORE TAXES | 3 259 602 | 12 132 634 | 22 213 419 | |||||
Provision for Income Taxes | 1 046 468 | 2 504 522 | 4 585 485 | |||||
NET INCOME | 2 213 133 | 9 628 111 | 17 627 934 | |||||
Statement of Financial Position ended 31 January. | ||||||||
ASSETS | 2020 | 2021 | 2022 | |||||
Cash & Equivalents | 165 976 | 59 704 | 72 481 | |||||
Trade Accounts Receivable | 76 301 | 131 668 | 108 665 | |||||
Inventory | 564 723 | 562 527 | 714 609 | |||||
Other Current Assets | 11 498 | 32 736 | 80 226 | |||||
TOTAL CURRENT ASSETS | 818 497 | 786 635 | 975 980 | |||||
Long-Term Investments | 296 039 | 1 054 808 | 1 032 783 | |||||
Net Fixed Assets | 1 733 864 | 2 300 459 | 2 913 069 | |||||
Intangible Assets | 35 188 | 41 765 | 40 383 | |||||
Other Non-Current Assets | 44 447 | 52 913 | 255 150 | |||||
TOTAL ASSETS | 2 928 034 | 4 236 580 | 5 217 365 | |||||
LIABILITIES | 2020 | 2021 | 2022 | |||||
Accounts Payable | 32 347 | 38 508 | 18 506 | |||||
Notes Payable | 66 715 | 79 422 | 47 506 | |||||
Accrued Liabilities | 69 241 | 479 255 | 300 441 | |||||
Income Taxes Payable | 7 570 | 9 012 | 5 165 | |||||
Current Portion of Long-Term Debt | 84 096 | 100 114 | 65 550 | |||||
TOTAL CURRENT LIABILITIES | 259 968 | 706 312 | 437 168 | |||||
Long-Term Debt | 319 783 | 380 443 | 223 849 | |||||
Other Long-Term Liabilities | 62 654 | 74 250 | 30 600 | |||||
TOTAL LONG-TERM LIABILITIES | 382 437 | 454 693 | 254 449 | |||||
TOTAL LIABILITIES | 642 405 | 1 161 004 | 691 617 | |||||
Ordinary Share capital | 2 600 529 | 2 600 529 | 2 600 529 | |||||
Preference share capital. | 712 000 | 712 000 | 712 000 | |||||
Retained Earnings | 2 213 133 | 9 628 111 | 17 627 934 | |||||
TOTAL EQUITY | 5 525 662 | 12 940 640 | 20 940 463 | |||||
TOTAL LIABILITIES AND EQUITY | 6 168 068 | 14 101 645 | 21 632 080 |
Required:
1. Compute the average age inventory of Eagle Toys for2021 (Show calculations)
2. Compute the current ratio of Eagle Toys for 2020? (Show calculations)
3. Compute the operating profit margin of Eagle Toys for 2020? (Show calculations)
4. Compute the times interest earned ratio of Eagle Toys for 2022? (Show calculations)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
1 To compute the average age of inventory for 2021 we need to divide the cost of goods sold COGS by ...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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